IRON Financial LLC Has $332,000 Stock Position in Newmont Co. (NYSE:NEM)

IRON Financial LLC boosted its stake in shares of Newmont Co. (NYSE:NEM) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,933 shares of the basic materials company’s stock after purchasing an additional 443 shares during the period. IRON Financial LLC’s holdings in Newmont were worth $332,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hoese & Co LLP bought a new stake in Newmont during the third quarter worth $27,000. Avior Wealth Management LLC increased its stake in shares of Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Newmont in the 3rd quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont in the 3rd quarter valued at about $32,000. Finally, McIlrath & Eck LLC grew its holdings in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,077 shares of company stock worth $563,080 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NEM. CLSA assumed coverage on Newmont in a research report on Friday, November 29th. They issued an “underperform” rating for the company. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. The Goldman Sachs Group initiated coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. Bernstein Bank raised their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Newmont Stock Down 1.1 %

Shares of Newmont stock opened at $41.58 on Tuesday. The firm’s 50-day moving average price is $40.35 and its two-hundred day moving average price is $46.81. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Newmont Co. has a 12-month low of $29.42 and a 12-month high of $58.72.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.